H.C. Wainwright Assumes Ultragenyx Pharma (RARE) at Buy, PT $82, 'Steep Discount Heading Into a Catalyst-Rich 2023'

(Updated - December 30, 2022 6:04 AM EST)

H.C. Wainwright analyst Ed Arce assumes coverage on Ultragenyx Pharma (NASDAQ: RARE) with a Buy rating and a price target of $82.00.

The analyst comments "Good news on GTX-102 in 2023 could raise the visibility on the rest of the pipeline. Ultragenyx is a biopharmaceutical company focused on the identification, acquisition, development, and commercialization of novel treatments for rare and ultra-rare genetic diseases. Founded in 2010 by CEO Dr. Emil Kakkis, Ultragenyx leverages its expertise in rapid and efficient rare disease drug development to target diseases with a high unmet medical need, no approved disease-modifying therapies and well understood biology. The company has a product portfolio, which we project delivers 2022 revenue growth (excluding license revenue) of 34.0%, consisting of: (1) Crysvita (guidance: $250M-$260M); (2) Dojolvi (guidance: $55M-$65M); and (3) Mepsevii (our estimate $21M), plus (4) Evkeeza, which is currently launching in Europe. In addition, Ultragenyx has a diverse, late-stage clinical pipeline of seven programs across three rare disease franchises: bone/endocrine; metabolics; and CNS/muscle..."

For an analyst ratings summary and ratings history on Ultragenyx Pharma click here. For more ratings news on Ultragenyx Pharma click here.

Shares of Ultragenyx Pharma closed at $45.17 yesterday.

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